Have Brits already stopped buying German products?

German exports to UK drop again, by 3.4% in first nine months of 2019

Are British consumers turning their backs on German exports?

This is on top of an 8% fall from 2015 to 2018, since the Referendum

The latest official figures out of Germany show that its goods exports to the UK have continued to fall this year.

Brexit Facts4EU.Org Summary

Germany's falling exports to the UK

  • In the first 9 months of 2019, Germany's goods exports to the UK have fallen by a further €2.1 billion
  • This is on top of an 8% fall from 2015 to 2018

“The downward trend of goods trade with the United Kingdom
observed since the Brexit referendum is persisting”

- Statistisches Bundesamt (Destatis), Germany’s official statistics agency, 2019

© Brexit Facts4EU.Org - click to enlarge

Brexit gets blamed by the Germans

A few weeks ago Germany’s state-funded media outlet Deutsche Welle headlined an article:

“German businesses already incurring Brexit losses, says industry boss”

“German businesses have already been suffering from the negative effects of Brexit, said Holger Bingmann, head of the foreign trade industry group BGA, pointing out losses to German exporters worth €3.5 billion this year.”

What about Germany’s economy as a whole?

The German media these days is full of stories about the worsening economic situation in their country. Only yesterday, a KPMG report presented a gloomy picture on foreign direct investment into Germany.

Brexit Facts4EU.Org Summary

Foreign direct investment in Germany plummets

  • Foreign direct investment in Germany declined by two-thirds in 2018 compared to the previous year
  • Only 24% of US companies asked, intend to invest €10 million or more in the next three years in Germany
  • This compares with 47% in 2017
  • That’s a 50% drop in US companies planning major investments in Germany – in just one year
  • “Surely the uncertainty of Brexit plays a role”, says Germany’s state-funded media Deutsche Welle

Germany’s leading economic institutes have been slashing their forecasts for economic growth for this year and for next year. Indeed, Germany only narrowly avoided entering a formal recession last month, by just 0.1%.

In the second quarter of the year the German economy shrank by 0.2%.

Observations

There has been a marked drop in the value of goods exports from Germany to the UK since the Referendum.

There are of course many reasons for this, including the crisis in Germany’s once-dominant car industry since the scandal over diesel emissions.

Nevertheless, Germany’s problems go deeper. With half as many US firms planning major investments in Germany over the next three years, and manufacturing confidence falling, only an increase in domestic consumer spending prevented Germany from falling into recession in the last quarter.

Readers may wish to imagine how the BBC would present all the bad news coming out of Germany, if all this were happening in the UK instead of Germany.

Buy British?

Various 'Buy British' campaigns have sprung up in recent years. We are interested to know from readers how much these are having an impact.

Finally, as ever we make an appeal to readers to donate something today so that we can continue to bring you important research and news on all matters related to Brexit. Easy and secure donation methods are below this article. Please do not assume that other readers will do this. We are not receiving enough donations to survive. Thank you for anything you can do to help.

[ Sources: Statistisches Bundesamt (Destatis) | Deutsche Welle | KPMG | Rheinische Post ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, 03 Dec 2019

Click here to go to our news headlines

And please scroll down to COMMENT on the above article.

Share this article on

Something to say about this? Scroll down for reader comments

Since before the EU Referendum, Brexit Facts4EU.Org
has been the most prolific researcher and publisher of Brexit facts in the world.

Supported by MPs, MEPs, & other groups, our work has impact.

We think facts matter. Please donate today, so that we can continue to ensure a clean Brexit is finally delivered.

Any credit card user

Quick One-off

Donate

From £5 - £1,000

Monthly

Subscribe

From £3 per month

Paypal Users Only - Choose amount first

Quick One-off

Monthly